Sweden Economy Stagnates in Q4

Seasonally adjusted the GDP was unchanged compared with the third quarter of 2012. Household consumption expenditures increased by 1.9 percent and general government consumption expenditures grew by 1.1 percent non-adjusted. Sweden's GDP increased by 1.4 percent, working-day adjusted and compared to the fourth quarter of 2011.

The changes in inventories amounted to a negative GDP change of 1.5 percentage points. Gross fixed capital formation increased by 1.8 percent. Exports were unchanged and imports decreased by 1.1 percent. Production of goods and services increased 1.0 percent. Production of goods dropped by 0.7 percent while service sector industries grew by 1.8 percent working-day adjusted. Total employment measured as the number of hours worked increased by 1.3 percent and the number of employed persons increased 0.5 percent.

Compared to the publication in November 2012, working day adjusted GDP growth for the second quarter 2012 has been revised upwards by 0.2 percentage points. The third quarter of 2012 has been revised downwards by 0.2 points seasonally adjusted. In the first quarter 2012 GDP growth has been revised downwards by 0.1 percentage points in working-day adjusted figures.

SCB | Nuno Fontes | nuno@tradingeconomics.com
3/1/2013 8:50:41 AM